KALEV

INCOME STATEMENT



AUDITED CONSOLIDATED INCOME STATEMENT OF 2000



Consolidated

Audited

in EEK

                                                      2000        1999



NET SALES                                      339,629,609 353,495,349



COST OF GOODS SOLD                             230,049,544 260,408,532



GROSS PROFIT                                   109,580,065  93,086,817



Marketing expenses                              26,126,986  21,590,199

Administrative expenses                         38,908,561  49,141,658

Other revenue                                    3,906,454     573,277

Other expenses                                  24,772,637  38,479,679



Operating profit/loss                           23,678,335 -15,551,442



FINANCIAL INCOME                                 6,606,089   8,339,715

Income from disposal of equity holding           1,470,116   2,243,380

Other financial income                           5,135,973   6,096,335

FINANCIAL EXPENSES                               9,995,659  35,962,631



Net profit/loss                                 20,288,765 -43,174,358



Earnings per share                                    2.58       -5.48





Rutt Panga

Supervisory Board Assistant

+372 628 3853